Kamino Finance v2 Sees Explosive Growth as Solana’s Leading Lending Venue
The post Kamino Finance v2 Sees Explosive Growth as Solana’s Leading Lending Venue appeared on BitcoinEthereumNews.com. The v2 money markets on Solana of Kamino Finance have made things happen in a big way, and with a considerable speed that is rarely seen in the world of decentralized finance (DeFi). They are now the number one place for users who want to borrow against their principal tokens (PTs), and they are fetching a nice amount of liquidity. You could say that this is happening quite mostly because of user demand, but we also have to consider that Kamino is now the place to go for using some nicer, more sophisticated DeFi strategies. In the days following the launch, the platform witnessed a staggering $150 million in total liquidity supplied across its lending markets and $60 million borrowed from them. These lending products—derived from Kamino’s lending market structures and pathing—are clearly in demand and being embraced even stronger and faster than anticipated. It is hard to underscore how impressive this is and what a strong signal it sends when happening almost immediately post-launch. PT Lending Surges, Kamino Leads the Pack Kamino’s rise in the PT lending space has been especially remarkable. The platform has swiftly moved past its rivals Drift and Loopscale in PT deposits, having ended the last quarter with $28 million in deposits, to Drift’s $11.7 million and Loopscale’s $9 million in deposits. So, despite being the third entrant into this market niche, Kamino has already moved into the lead. This is a clear signal of not just user migration but also strong preference. The driving force behind this growth is the Exponent Finance PT market, which permits users to take out loans pegged to the price of SOL against restaked tokens. Only recently assembled in the Solana ecosystem, restaked tokens are a kind of liquid collateral that can be put to work in DeFi. Exponent’s…
The post Kamino Finance v2 Sees Explosive Growth as Solana’s Leading Lending Venue appeared on BitcoinEthereumNews.com.
The v2 money markets on Solana of Kamino Finance have made things happen in a big way, and with a considerable speed that is rarely seen in the world of decentralized finance (DeFi). They are now the number one place for users who want to borrow against their principal tokens (PTs), and they are fetching a nice amount of liquidity. You could say that this is happening quite mostly because of user demand, but we also have to consider that Kamino is now the place to go for using some nicer, more sophisticated DeFi strategies. In the days following the launch, the platform witnessed a staggering $150 million in total liquidity supplied across its lending markets and $60 million borrowed from them. These lending products—derived from Kamino’s lending market structures and pathing—are clearly in demand and being embraced even stronger and faster than anticipated. It is hard to underscore how impressive this is and what a strong signal it sends when happening almost immediately post-launch. PT Lending Surges, Kamino Leads the Pack Kamino’s rise in the PT lending space has been especially remarkable. The platform has swiftly moved past its rivals Drift and Loopscale in PT deposits, having ended the last quarter with $28 million in deposits, to Drift’s $11.7 million and Loopscale’s $9 million in deposits. So, despite being the third entrant into this market niche, Kamino has already moved into the lead. This is a clear signal of not just user migration but also strong preference. The driving force behind this growth is the Exponent Finance PT market, which permits users to take out loans pegged to the price of SOL against restaked tokens. Only recently assembled in the Solana ecosystem, restaked tokens are a kind of liquid collateral that can be put to work in DeFi. Exponent’s…
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